Fiera Milano Spa · MIL:FM
Fiera Milano Spa — Q1 2018 Earnings Presentation
18 slides from Fiera Milano Spa's earnings presentation, May 11, 2018
Slide 1: 1st Quarter 2018 Consolidated Results
www.fieramilano.it 1st Quarter 2018 Consolidated Results FIERA MILANO GROUP CONFERENCE CALL - 11 MAY 2018 1
Slide 2: Contents
CONTENTS Highlights Financial Results Business outlook 2
Slide 3: Highlights
HIGHLIGHTS Strong, higher than expected quarterly results, reflecting the more favourable exhibition calendar and a general positive trend in exhibitions combined with lower operating costs due to restructuring measures • Net exhibition space occupied in Italy: 529,190 square metres (19% by directly
Slide 4: Contents
CONTENTS Highlights Financial Results Business outlook 4
Slide 5: Italian Exhibitions
ITALIAN EXHIBITIONS Exhibition space rented out ('000 net sq.m.) 529 467 118 Biennial 110 exhibitions Annual exhibitions 411 357 1Q17 1Q18 of which directly organised Biennial exhibitions 57 - Annual exhibitions 88 102 General positive performance of annual exhibitions Bit and Tempo di Libri hel
Slide 6: Italian Exhibitions
ITALIAN EXHIBITIONS 1Q17 Italian exhibitions 1Q18 restated* Revenues (€m) 68.9 54.9 EBITDA (€m) 16.8 7.4 % on revenues 24.4% 13.4% EBIT (€m) 16.2 6.6 % on revenues 23.5% 12.0% The figures for the first quarter 2017 reflect the application of the new standard IFRS 15 from 1 January 2018. • The 1Q18 i
Slide 7: Foreign Exhibitions
FOREIGN EXHIBITIONS Foreign exhibitions 1Q18 1Q17 Revenues (€m) 0.9 0.5 EBITDA (€m) 1.8 0.9 % on revenues 199.9% 165.3% EBIT (€m) 1.7 0.7 % on revenues 188.5% 140.7% • Net exhibition space occupied abroad totalled 95,380 square metres vs 82,435 square metres in 1Q2017 • The increase in revenues was
Slide 8: Stand-fitting Services
STAND-FITTING SERVICES Stand-fitting services 1Q18 1Q17 Revenues (€m) 12.7 9.8 EBITDA (€m) 1.3 0.6 % on revenues 10.4% 5.7% EBIT (€m) 1.0 0.1 % on revenues 7.7% 1.2% • The trend in revenues and margins reflected higher volumes in the stand-fitting business linked to the favourable exhibition calenda
Slide 9: Media
MEDIA Media 1Q18 1Q17 Revenues (€m) 2.9 2.5 EBITDA (€m) 0.1 (0.3) % on revenues 2.8% -11.3% EBIT (€m) 0.0 (0.4) % on revenues 0.5% -15.0% • The increase in revenues and EBITDA was mainly due to higher billboard advertising and sponsorship Gross of adjustments for inter-segment transactions 9
Slide 10: Congresses
CONGRESSES 1Q17 Congresses 1Q18 restated* Revenues (€m) 6.5 5.7 EBITDA (€m) (0.4) (0.4) % on revenues -5.5% -7.1% EBIT (€m) (0.7) (0.7) % on revenues -10.8% -12.4% The figures for the first quarter 2017 reflect the application of the new standard IFRS 15 from 1 January 2018. • The increase in revenu
Slide 11: Net Financial Position
NET FINANCIAL POSITION Consolidated Net Financial Position (€m) 31/03/18 31/12/17 Cash & cash equivalents 34.8 17.9 Current financial assets 1.1 2.8 Current bank borrowings 0.0 0.7 Current portion of non-current debt 12.0 16.6 Other current financial liabilities 0.8 0.7 Current financial debt 12.8 1
Slide 12: Contents
CONTENTS Highlights Financial Results Business outlook 12
Slide 13: Business Outlook
BUSINESS OUTLOOK • The positive trend in business was confirmed by the exhibitions held in Italy after the end of quarter. In particular, the Salone Internazionale del Mobile had a new record edition • Following the good performance of the exhibitions in the first quarter, 2018 EBITDA is expected to
Slide 14: Appendix
Appendix
Slide 15: Income Statement
INCOME STATEMENT FY17 Consolidated Income Statement (€m) 1Q18 1Q17 restated restated 256.3 Revenues 77.3 62.1 3.2 Cost of materials 0.8 0.9 133.3 Cost of services 32.8 27.9 49.9 Costs for use of 3rd-party assets 12.4 13.3 48.9 Personnel expenses 12.8 11.8 5.4 Other operating expenses 1.1 1.3 240.7 T
Slide 16: Statement of Financial Position
STATEMENT OF FINANCIAL POSITION Consolidated Statement of Financial Position (€m) 31/03/18 31/12/17 Non-current assets 151.9 151.5 Net working capital (77.9) (74.3) Gross capital employed 74.0 77.3 Non-current liabilities 13.5 13.4 Total net capital employed 60.5 63.8 Equity 81.1 63.0 Net financial
Slide 17: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS Data and information herewith set forth are extracted from the press release related to Fiera Milano Consolidated Results to 31 March 2018 filed with Italian authorities regulating exchanges and securities and disseminated concomitantly with this presentation. This documen
Slide 18: For further information, please contact
For further information, please contact: Gianna La Rana Investor Relations Director Camilla Cusi Investor Relations Tel +39 02.4997.7816/7911 email: investor.relations@fieramilano.it Fiera Milano SpA Strada Statale del Sempione 28 20017 Rho (Milano) - Italia www.fieramilano.it